burn baby burn I guess

[solarbird]

Remember kids, the phrase you’re looking for is:

“Why are you complaining? This is exactly what you voted for, you stupid-ass motherfuckers.”

inb4 “most people don’t have stock”: then just wait’ll the inflation hits.

Morons.

Posted via Solarbird{y|z|yz}, Collected.

Comments

[conuly]

inb4 “most people don’t have stock”: then just wait’ll the inflation hits.

Yeah, well, that's what they said in 1929 too.

[solarbird]

That's not how I read it.

One of the big fears amongst those who were anticipating a massive selloff was that too many people had stock, by which they meant people who didn't know what they were doing and had no backup money and were over-investing because ... I forget what the phase was at the time, but basically because Line Goes Up.

One of the big memes of the '29 crash and following great depression was people wallpapering rooms in their houses - or insulating their houses - with their now-worthless stock certificates. And this is a thing that actually happened a bit, though not as much as the meme would tell you. Mostly all those worthless certificates would end up being found in estate sales and such.

[wrog]

man, I wish there were a good way to play this. Could sell naked calls but that could backfire spectacularly if we, say, get another 9-11 or some other stupidity that works in his favor.

[solarbird]

Christ, right? But he's trying to gin up himself up a war right now, with this Iran buildup, and China's getting real salivatey at Taiwan, so well, you've already figured all that out so.

Fucking nightmares.

[kayla_allen]

My retirement is primarily my 401(k) plan. I did take a little bit out recently just after I became eligible to do so (paying off high-interest debt having a good payback value), but I'm worried that its value will be destroyed by the stock market tanking and inflation wrecking the value. But I don't like the idea of rushing into gold, because Gold Bugs always strike me as insane monomaniacs.

I'm less than ten years away from nominal retirement, and even if the Orange One drops dead tomorrow, I'm worried at how long it will take to repair the harm he has already done to this country.

[arethinn]

Yyyeah... my retirement account lost $40,000 in value during the last 30 days because of this 🫠

[kayla_allen]

I get it. Mine lost a year's worth of income in the first couple of days. It hasn't continued on that calamitous of a pace; I assume that the fund managers have been rushing money into safer investments to slow the hemorrhaging.

[canyonwalker]

While it's true that "The Market Is Not The Economy" the two are still very related. The market is dropping because investors fear that the widening trade war will drive up prices, drive down purchases, and thus drive down companies' profitability.

Drive up prices = Things people buy every day get more expensive.

Drive down corporate profits = Employers respond with hiring freezes, flat wages y/y, and eventually, layoffs.

"The Market" is not just a story about the 1% who own 50% of it. The Market is a barometer of what's going to happen to the other 99%. And we're going to feel it harder because we don't have the cushion of 8- to 12-figure portfolios to ride it out.

[ckd]

I'm schadenfreudally amused by the sidebar link about losing money buying Truth Social stock, since it was so blatantly terrible an idea from day -100 or so.

[solarbird]

Its only use is as a bribery conduit. Literally the only use. And yet.